PSX Records Soaring Growth Amid Positive Economic Indicators

The Pakistan Stock Exchange (PSX) has recorded a significant surge in growth, with its benchmark index reaching a new high of 115,172.44. This marks a growth rate of 0.87% and a low of 112,946.48. The Current Account Deficit (CAD) has narrowed by 79% year-on-year to $217 million, and exports are projected to reach $33 billion by FY2025. Remittances are also expected to rise to $33.5 billion. The government has reduced Treasury Bill yields by up to 100 basis points, and a policy rate cut of up to 200 basis points is anticipated during the December 16 MPC meeting. Inflation has dropped to 4.9% in November, and passenger car sales have surged by 62% year-on-year. The Asian Development Bank (ADB) has approved loans of $530 million for modernizing power distribution infrastructure and expanding social protection programs. National Savings Schemes profit rates have been revised, with the Savings Account rate cut by 250 basis points to 13.5%. Saudi Arabia's deposit has been extended to $3 billion, and trade agreements valued at $560 million have been signed. The Advance-to-Deposit Ratio (ADR) has improved to 47.8% as of November 29, 2024.